complete a Statement of Cash Flows

4. MEASURING CASH FLOWS
DATA
Abrahams Manufacturing Company Balance Sheet (complete a Statement of Cash Flows)
Assets:	2019	2020
Cash	$89,000	$100,000
Accounts Receivable	64,000	70,000
Inventory	112,000	100,000
Prepaid expenses	10,000	10,000
Total current assets	275,000	280,000
Gross plant and equipment	238,000	311,000
Accumulated Depreciation	(40,000)	(66,000)
Total assets	$473,000	$525,000
Liabilities and Equity	2017	2018
Accounts Payable	$85,000	$90,000
Accrued liabilities	68,000	63,000
Total current liabilities	$153,000	$153,000
Mortgage Payable	70,000	0
Preferred stock	0	120,000
Common stock	205,000	205,000
Retained earnings	45,000	47,000
Total liabilities and equity	$473,000	$525,000
Abrahams Manufacturing Company Income Statement
For the Year Ended 12/31/2014
Sales (all credit)		$184,000
Less: cost of goods sold		60,000
Gross profits		124,000
Less: operating expenses
General and administrative	44,000
Depreciation	26,000
Total		70,000
Operating income		54,000
Interest expense		4,000
Earnings before taxes		50,000
Taxes		16,000
Preferred stock dividends		10,000
Earnings available to common stockholders		24,000
1. The only entry in the accumulated depreciation account is for 2020 depreciation.
2. Common stock dividends for 2020	$22,000
3. Net income is computed before dividend payments, or $34,000